New York, United States , March 16, 2023 (GLOBE NEWSWIRE) -- The Global Microcontroller Size is to grow from USD 31 Billion in 2021 to USD 52 Billion by 2030, at a Compound Annual Growth Rate (CAGR) of 8% during the forecast period. The increasing adoption of microcontroller by different industries such as computer, consumer electronics, aerospace & defense, medical & healthcare, automotive, semiconductor manufacturing, robotics, and others is the key driving factor.
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A microcontroller is a compact, low-cost microcomputer that is used in embedded systems to carry out particular functions including displaying microwave data and receiving distant signals. The components of this common microcontroller include a CPU, memory in the form of RAM, ROM, EPROM, serial ports, and peripherals like timers and counters. Several end-use industries, including automotive, consumer electronics, aerospace & military, IT & telecommunication, and healthcare, are rapidly adopting the Internet of Things (IoT). Furthermore, electronic devices such as cell phones, cameras, microwave ovens, and washing machines are automatically controlled by embedded applications which are mostly operated through microcontrollers.
Browse key industry insights spread across 210 pages with 120 market data tables and figures & charts from the report TOC on the "Global Microcontroller Market Size, Share, and COVID-19 Impact Analysis, By Product Type (8-Bit, 16-Bit, 32-Bit), By Application Type (Automotive, Consumer Electronics, Industrial, Medical Devices, Aerospace & Defense, Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030" Get Detailed Report Description Here:
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The 32-bit segment is witnessing a higher growth rate over the forecast period.
Based on product type, the global microcontroller market is segmented into 8-bit, 16-bit, and 32-bit. Among these, the 32-bit segment is witnessing a higher growth rate over the forecast period owing to its higher level of precision in embedded systems and increasing connectivity using the internet. The growing use of 32-bit microcontrollers in automotive applications and the steadily falling average selling prices are both responsible for this high percentage. 32-bit MCUs use less energy and have more processing capacity than their 16-bit equivalents.
The medical devices segment is witnessing significant CAGR Growth over the forecast period.
On the basis of application type, the global microcontroller market is segmented into the computer, automotive, consumer electronics, industrial, telecom, medical devices, aerospace & defense, and others. Among these, the medical devices segment is witnessing significant CAGR growth over the forecast period. A microcontroller is essential for providing digital filtering and processing of patient conditions as well as parametric outcomes of physiological data, comprising hypertension, electrocardiogram (ECG), blood oxygen concentration, lung capacity, blood sugar, and many other variables. Microcontrollers can provide accurate patient readings and information while also lowering the cost of medical equipment.
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North America is dominating the market with the largest Market share of 16%.
North America is dominating the market with the largest market share of 16%. This is majorly contributed to customer demand for consumer devices such as tablets, smartphones, and other consumer electronics in the region. Because there is a sizable market for consumer electronics and a growing demand for smart wearables, medical devices, sensors, and other IoT-enabled products in the United States and Canada, which leads to increasing the region's requirement for microcontrollers.
The microcontroller market in APAC has shown the quickest growth throughout the projected period and is anticipated to expand at a CAGR of more than 13%. This can be ascribed to the region's accelerating increase in automotive sales and rising demand for high-end consumer gadgets.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Microcontroller Market include Analog Devices Inc., Intel Corporation, Yamaichi Electronics Co., Ltd., ON Semiconductor, Panasonic Corporation, QuickLogic, STMicroelectronics N.V., Ambiq Micro, Inc., Fujitsu Semiconductor Limited, Zilog, Inc., Diedevices, ELAN Electrronics, Gigadevice, TE Connectivity Ltd., Samsung Semiconductors, Microchip Technology Inc., Seiko Epson Corporation, Texas Instruments Incorporated, Renesas Electronics Corporation, Toshiba Electronic Devices & Storage Corporation, ROHM Co., Ltd., Infineon Technologies AG, Nuvoton Technology Corporation, NXP Semiconductor, and among others.
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